Similarities Between U

question 141

Multiple Choice

Similarities between U.S.GAAP and IFRS include which of the following?

• A)Both U.S.GAAP and IFRS permit the same cost flow assumptions.
• B)Inventory is carried at the lower of cost or net realizable value under both U.S.GAAP and IFRS.
• C)Direct costing is required under both U.S.GAAP and IFRS.
• D)The definition of inventory is similar in both U.S.GAAP and IFRS.

Recognize the role of realistic job previews in improving organizational socialization.

Differentiate between the observable and hidden elements of organizational culture.

Examine the impact of reality shock and the adjustment process in organizational socialization.

Understand the importance of co-workers as organizational socialization agents.

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Definitions:

Disproportionately Small

Referring to an amount or share that is significantly less than what is considered fair or equal in comparison to others.

Opinion Statements

Expressions that communicate personal beliefs, views, or evaluations, rather than objective facts.

Material Representations

Statements or assertions of fact that significantly influence the decision-making of another party in a legal agreement.

Innocent Misrepresentations

False statements made without fault regarding a material fact that induce someone into a contract.